Palantir Teams with Rackspace for AI Deployment; Mizuho Sets $195 Target
Palantir announces partnership with Rackspace to scale its Foundry and AI Platform deployment, with Rackspace expanding its Palantir-trained engineer headcount from 30 to over 250 within a year. Mizuho raised Palantir’s rating to Outperform and set a $195 price target.
1. Strategic Partnership with Rackspace
Palantir has forged a strategic collaboration with Rackspace Technology to accelerate enterprise adoption of its Foundry and Artificial Intelligence Platform, with Rackspace planning to grow its cadre of Palantir-trained engineers from 30 to over 250 within the next year to support data migration and implementation services.
2. Analyst Upgrade and Price Forecast
Mizuho upgraded Palantir to Outperform and set a $195 price forecast, contributing to an average analyst target of $193.42; Citigroup and DA Davidson currently carry targets of $260 and $180 respectively, reflecting diverse sentiment among equity research firms.
3. Technical Indicators and Valuation
In premarket trading, Palantir shares trade 8.1% below their 20-day SMA and 21.3% below their 100-day SMA, with a neutral RSI of 35.35 and bearish MACD, while the stock commands a premium P/E of 211.1x, with key support at $128.50 and resistance at $145.00.
4. ETF Exposure and Premarket Movements
Palantir holds weights of 8.32% in IGV, 8.93% in AIPI and 7.66% in EGGY, meaning any ETF inflows or outflows could trigger significant stock movements; in premarket action, Palantir shares rose 2.71% and Rackspace shares surged 145.82%.